Housing stock shortages underpinning property prices
Upgraders and downsizers are among those feeling the pinch from tighter borrowing restrictions and higher interest rates but housing supply shortages are propping up real estate values, argues API Magazine columnist and REBAA President Cate Bakos.
Property prices have retreated in recent months but many buyers are still finding themselves caught up in bidding wars. (Image source: Shutterstock.com)
Despite the rhetoric, buyers are finding the market conditions more challenging than they did late last year.
Price falls have not been consistent across all segments of the market either, adding confusion for many buyers and property investors as they find themselves caught up in bidding wars and competitive buying situations.
As a general observation, renovated properties are holding firm and some are experiencing price growth.
The stock sho…
